ASX smashes closing record, up 0.7pc

Daily Telegraph

5 days ago

Don't miss out on the headlines from Stockhead. Followed categories will be added to My News.
ASX hits new record closing high of 8630 points
Broad strength across 10 of 11 sectors, led by info tech
Rio Tinto appoints Aussie Simon Trott as new CEO
ASX closes almost 30 points higher than previous record
The ASX 200 surged to a new closing high record today, smashing its previous close of 8603 points set on July 4.
The market powered up 0.7% during the session, closing out the day at a very respectable 8630 points.
Info tech (+2.16%) and healthcare (+2.04%) led gains, weighed down but ultimately unperturbed by a sullen materials sector that shed 0.28%.
Source: Market Index.
It wasn't all gloom in the resources sector – the gold index added 1.54% and rare earth stocks continued their bullish run.
Arafura Rare Earths (ASX:ARU) climbed 5%, Metallium (ASX:MTM) jumped 16.5% and Dateline Resources (ASX:DTR) surged 28.7%.
The latter two, in particular, are viewed as potential winners from American efforts to reshore critical minerals production, laid bare in a multi-billion buckaroo public-private partnership announced with MP Materials last week. Locksley Resources (ASX:LKY), which like DTR holds ground close to MP's Mountain Pass mine on California, was close to 24% higher.
Meanwhile, Rio Tinto (ASX:RIO) came out with some late, breaking news, appointing Simon Trott as its chief executive.
Replacing Jakob Stausholm, the move will be seen as a major win for the Australian Government, with a local boss to lead the world's second biggest miner for the first time since Sam Walsh's exit in 2016. Trott has been the CEO of the miner's largest business, its Pilbara iron ore operations, since 2021, taking over after the resignation of Chris Salisbury following the Juukan Gorge scandal – a 2020 incident which also forced the exit of then CEO JS Jacques and external affairs chief Simone Niven.
Trott will take over officially on August 25, netting a base salary of 1.34 million pounds.
"It is a privilege to have the opportunity to lead Rio Tinto, and I am excited about our future," he said.
"The progress we have made over recent years gives us a foundation to build on with discipline and focus to deliver improved performance. With our outstanding assets and people around the world, we are well positioned to grow value for shareholders and the communities who host us."
Rio shares fell 1.31% today, with Trott's appointment announced after market close.
Source: Market Index.
Defence stocks locked and loaded
Global military expenditure shot up more than 9% from 2023 to 2024, hitting US$2.7 trillion in 2024, according to the Stockholm International Peace Research Institute.
As US President Trump turns decades of American foreign policy on its head, threatening to withdraw US support for long-standing defensive treaties, the rest of the world is responding.
The European Union has ramped up defence spending more than 30% since 2021, hitting €326 billion in 2024.
While it's a sobering peek into the shifting tides of geopolitics, a handful of ASX defence stocks are already stepping into the supply gap.
Electro Optic Systems (ASX:EOS) jumped 10.7% in trade today, and the advanced technology system company is far from alone.
Shipbuilder and defence contractor Austal (ASX:ASB) added 2.6%, UAV connectivity solution firm Elsight (ASX:ELS) surged 19.2% and counter-drone specialist Droneshield (ASX:DRO) climbed 11.7%.
The Vaneck Global Defence ETF (ASX:DFND),which offers exposure to a portfolio of global military or defence industry companies, has also shot up more than 50% in the year to date as investors pour in.
ASX SMALL CAP LEADERS
Today's best performing small cap stocks:
Code Name Last % Change Volume Market Cap MIOR Macarthur Minerals 0.003 200% 447404 $99,833 FTC Fintech Chain Ltd 0.004 100% 1592539 $1,301,539 KNG Kingsland Minerals 0.145 53% 290323 $6,893,287 ERL Empire Resources 0.006 50% 1546439 $5,935,653 EEL Enrg Elements Ltd 0.002 33% 1912486 $4,880,668 AKN Auking Mining Ltd 0.006 33% 37340109 $3,096,523 PV1 Provaris Energy Ltd 0.017 31% 4193417 $10,101,617 OEQ Orion Equities 0.195 30% 28466 $2,347,384 AX8 Accelerate Resources 0.009 29% 2097369 $5,720,321 CPM Cooper Metals Ltd 0.048 26% 294686 $2,977,515 PR1 Pure Resources Limited 0.125 25% 440609 $4,600,879 ASN Anson Resources Ltd 0.09 25% 14901420 $99,845,031 CUL Cullen Resources 0.005 25% 250433 $2,773,607 MEG Megado Minerals Ltd 0.04 25% 1909655 $20,661,864 PIL Peppermint Inv Ltd 0.0025 25% 343838 $4,602,180 PPG Pro-Pac Packaging 0.02 25% 352939 $2,907,003 PPY Papyrus Australia 0.01 25% 136062 $4,581,454 RLG Roolife Group Ltd 0.005 25% 2019881 $6,371,125 LKY Locksley Resources 0.115 24% 26061959 $17,050,000 CP8 Canphosphateltd 0.074 23% 187789 $18,405,632 SNS Sensen Networks Ltd 0.037 23% 20027 $23,791,124 IBX Imagion Biosys Ltd 0.017 21% 27940131 $2,818,780 RPG Raptis Group Limited 0.12 20% 140947 $35,068,485 AYT Austin Metals Ltd 0.003 20% 181536 $3,960,478 BNL Blue Star Helium Ltd 0.006 20% 145568 $13,474,426
Making news...
Pure Resources (ASX:PR1) is riffing off neighbour Green Critical Minerals' (ASX:GCM) success, launching a graphite review of the Reedy Creek project after GCM released a strong feasibility study for its own McIntosh project.
Since McIntosh surrounds Reedy Creek and shares much of the same geology, PR1 is expanding beyond extracting rare earths from garnet to investigate graphite potential, building out its critical mineral offering.
AuKing Mining (ASX:AKN) is on the hunt for rare earths at its Myoff Creek project in Canada, preparing to launch a helicopter-based aeromagnetic and radiometric survey over the tenure.
Management says they're looking for carbonatite mineralisation over the entire 800ha project area, with a particular focus on a 1.4km by 400m zone where historical exploration highlighted near-surface niobium and rare earth mineralisation.
Imagion Biosystems (ASX:IBX) is fast-tracking manufacturing of its MagSense HER2 Imaging Agent for breast cancer detection ahead of a Phase 2 trial, after a productive meeting with the US FDA.
IBX is also preparing to submit its investigational new drug application for the imaging agent, tapping Dr William Dooley, a surgical oncologist at the University of Oklahoma Health Sciences College of Medicine, as principal investigator.
SenSen (ASX:SNS) raked in full year cash collections of $14.1m this year, a strong 13% increase over the previous reporting period.
The AI solutions provider marked its first ever year of positive operating cash flow as well, pulling in $1.9m compared to outflows of $1.3m in the previous financial year, a $3.2m improvement.
ASX SMALL CAP LAGGARDS
Today's worst performing small cap stocks:
Code Name Last % Change Volume Market Cap AOA Ausmon Resorces 0.001 -50% 1226988 $2,622,427 SFG Seafarms Group Ltd 0.001 -50% 6000 $9,673,198 SKN Skin Elements Ltd 0.002 -33% 55557 $3,225,642 CTN Catalina Resources 0.003 -25% 1743751 $9,704,076 FAU First Au Ltd 0.003 -25% 16503 $8,305,165 GTR Gti Energy Ltd 0.003 -25% 3176612 $14,835,762 BCB Bowen Coal Limited 0.075 -25% 2076944 $10,775,756 APC APC Minerals 0.008 -24% 10585499 $3,075,800 X2M X2M Connect Limited 0.014 -22% 1532537 $7,831,023 AMS Atomos 0.004 -20% 55022 $6,075,092 M2R Miramar 0.004 -20% 13877015 $4,984,116 MRD Mount Ridley Mines 0.002 -20% 3700 $1,946,223 PRM Prominence Energy 0.002 -20% 891688 $1,216,176 RNX Renegade Exploration 0.004 -20% 150000 $6,441,817 SLZ Sultan Resources Ltd 0.004 -20% 639757 $1,157,350 SPQ Superior Resources 0.004 -20% 2402254 $11,854,914 RDG Res Dev Group Ltd 0.009 -18% 68225 $32,459,439 THB Thunderbird Resource 0.009 -18% 2384348 $4,287,156 RMI Resource Mining Corp 0.014 -18% 2369600 $12,485,707 ARV Artemis Resources 0.005 -17% 1637579 $15,214,033 AZL Arizona Lithium Ltd 0.005 -17% 18139597 $31,621,887 CC9 Chariot Corporation 0.059 -16% 525881 $8,354,764 AJL AJ Lucas Group 0.006 -14% 156934 $9,630,107 BLU Blue Energy Limited 0.006 -14% 20000 $12,956,815 BYH Bryah Resources Ltd 0.006 -14% 3574 $6,789,675
IN CASE YOU MISSED IT
Silver Mines (ASX:SVL) has lodged all information to assist with the redetermination of the Development Application for its flagship Bowdens Silver Project.
Zenith Minerals (ASX:ZNC) is gearing up to drill its Dulcie gold project in WA, hoping to unlock a large exploration target.
Trek Metals (ASX:TKM) has reported high grade gold from drilling at the Martin prospect at Christmas Creek, as it looks to shore up a district scale opportunity.
Miramar Resources (ASX:M2R) finds bedrock gold targets beneath Gidji aircore results.
Brazilian Critical Minerals (ASX:BCM) has selected newly formed Altris Engineering as lead engineer for the Ema project bankable feasibility study.
DigitalX (ASX:DCC) has rapidly executed its latest capital raise, deploying nearly all proceeds into Bitcoin within hours of settlement.
Chariot Corporation (ASX:CC9) has raised $1.6 million in a strategic placement to advance its Nigerian lithium portfolio.
Non-bank lender MONEYME (ASX:MME) has become a principal credit card issuer for Mastercard in Australia.
IoT technology company X2M Connect (ASX:X2M) is building on lucrative contract wins with a $4.9m capital raise to ramp-up momentum.
Many Peaks Minerals (ASX:MPK) has its sights set on a potential bulk tonnage operation at the Ferké gold project in Côte d'Ivoire.
Pioneer Lithium (ASX:PLN) has been granted the Botsalano project in southern Botswana, expanding its strategic uranium footprint.
Nova Minerals (ASX:NVA) has announced the pricing of its underwritten public offering in the US for gross proceeds of approximately US$11.1 million.
EBR Systems (ASX:EBR) has received preliminary approval from US Centers for Medicare and Medicaid Services to participate in the TPT reimbursement scheme.
TRADING HALTS
At Stockhead, we tell it like it is. While Locksley Resources and Imagion Biosystems are Stockhead advertisers, they did not sponsor this article.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Originally published as Closing Bell: ASX smashes previous closing record, up 0.7pc